Analyst Shawn Wu of Stern Agee reiterated that expectation in a memo for clients, but also adds that the photo and camera apps will be overhauled as well.

Photos and videos will receive more sharing options in iCloud, as the Wall Street Journal suggested from its own sources a while ago. As for the camera app, it will possibly introduce a richer interface, making iOS users less reliant on solutions like Instagram and other 3rd party software from the App Store.

Here's to hoping too it can convert their videos from 1080P to say 720P (or others) too.

I had to drop $5 (not too much of a big deal) for iMovie for my new iPad, because a 4 minute video was half a gig with 1080P. I got iMovie to convert it to 720P and cut the file size to about three fifths so it would not take as long to post.

Either that, or allow a setting where you can select 1080P, 1080i, 720P, etc prior to recording.

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